Date
22 October 2017

Wuhan Iron not bidding for Rio Tinto Canada ore assets, WSJ says

China’s Wuhan Iron & Steel (Group) Corp. isn’t in the bidding for the Canadian iron-ore assets of Rio Tinto PLC, the Wall Street Journal reported Wednesday, citing people familiar with the matter. Rio Tinto has been looking to sell its 59 percent stake in Iron Ore Co. of Canada since last year, but interest has all but fizzled, the report said. The mining giant will now consider whether it should lower the price of the asset or put on hold the sale process, the report said. 

– Contact HKEJ at [email protected]

RA/RC

 

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